Relative Performancebewertung und Produktmarktwettbewerb |
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Authors: | Holger Asseburg Prof Dr Christian Hofmann |
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Institution: | 1. Volkswagen AG, Wolfsburg, Deutschland 2. Lehrstuhl für ABWL und Controlling, Universit?t Mannheim, Schloss, 68131, Mannheim, Deutschland
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Abstract: | Relative Performance Evaluation aims at reducing incentive risk imposed on a manager, and at influencing product market choices. Thereby, firm owners can choose stronger effort incentives, and they may reduce the degree of competition with the firm’s competitors. Within a principal/agent-model, we explore the interrelation between characteristics of product market competition, performance evaluation, and incentives. Our results show that a firm’s optimal performance evaluation significantly depends on the characteristics of product market competition. This implies that a firm’s optimal choice of performance evaluation is firm- and industry-specific. Hence, our results support the industry-selection-approach recently applied in empirical compensation studies. |
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Keywords: | Schlüsselw?rter" target="_blank">Schlüsselw?rter Anreizsysteme Produktmarkt Relative Performancemessung |
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